Scooters - Senegal

Senegal

Highlights

Revenue in the Scooters market in Senegal is projected to reach US$6.66m in 2024.
The revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.36%, resulting in a projected market volume of US$7.49m by 2029.
The unit sales in the Scooters market are expected to reach 7.25k motorcyles in 2029.
The volume weighted average price of the Scooters market in Senegal in 2024 is expected to be US$1.01k.
From an international perspective, it is shown that the most revenue will be generated India (US$10.62bn in 2024).
The popularity of electric scooters is rapidly growing in Senegal, with more and more people opting for eco-friendly transportation options.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Scooters market in Senegal has been experiencing significant growth in recent years.

Customer preferences: Senegal, like many other countries in Africa, is experiencing rapid urbanization and population growth. As a result, there is an increasing demand for affordable and convenient transportation options. Scooters offer a cost-effective and efficient mode of transportation, especially for short distances within congested urban areas. Additionally, scooters are easy to maneuver through traffic and can be parked in tight spaces, making them ideal for navigating the crowded streets of Senegal's cities.

Trends in the market: One of the key trends in the Scooters market in Senegal is the rise of electric scooters. With growing concerns about environmental sustainability and the need to reduce carbon emissions, many consumers are opting for electric scooters over traditional gasoline-powered ones. Electric scooters are not only more eco-friendly but also offer lower operating costs, as they require less maintenance and have lower fuel expenses. This trend aligns with the global shift towards greener transportation options. Another trend in the Scooters market in Senegal is the increasing popularity of scooter-sharing services. These services allow users to rent scooters for short periods, typically through a mobile app. Scooter-sharing services provide a convenient and affordable transportation option for individuals who do not own scooters or prefer not to use public transportation. This trend is driven by the growing popularity of ride-sharing and the increasing use of smartphones in Senegal.

Local special circumstances: Senegal's government has recognized the importance of developing sustainable transportation solutions to address the challenges posed by urbanization and population growth. In recent years, the government has implemented policies and initiatives to promote the use of scooters as a means of transportation. This includes the construction of dedicated scooter lanes and the introduction of subsidies and incentives for electric scooters. These measures have contributed to the growth of the Scooters market in Senegal.

Underlying macroeconomic factors: Senegal's economy has been growing steadily in recent years, with a focus on sectors such as agriculture, manufacturing, and services. This economic growth has led to an increase in disposable income, allowing more individuals to afford scooters as a mode of transportation. Additionally, the government's investment in infrastructure development, including road construction and improvement, has made it easier for people to use scooters as a means of commuting. In conclusion, the Scooters market in Senegal is growing due to customer preferences for affordable and convenient transportation options, the rise of electric scooters, the popularity of scooter-sharing services, government initiatives to promote sustainable transportation, and the country's overall economic growth. These factors are driving the demand for scooters in Senegal and are expected to continue shaping the market in the coming years.

Data coverage:

Data encompasses B2C enterprises. Figures are based on motorcycle sales and revenue excluding scooters/mopeds under 50cc category.

Modeling approach / Market size:

Market sizes are determined by a Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use manufacturer websites, national statistics offices, motorcycle associations, motorcycles sales websites. Next we use relevant key market indicators and data from country-specific associations such as GDP per capita, consumer price index, consumer spending, and population. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, the forecasting is done on a make level for Motorcycles, using a mix of standard approaches, e.g., exponential smoothing, and uses parameters which best fit the historical data. The main drivers are GDP per capita, consumer price index, consumer spending, and population.

Additional Notes:

The market is updated once a year.